SNB keeps minimum exchange rate unchanged in March

The Swiss National Bank decided to leave the minimum exchange rate unchanged at CHF 1.20 per euro on Thursday and “will continue to enforce it with the utmost determination,” as it is stated in the official document released after the decision was made known.

The SNB explained that the CHF is still high and its further appreciation would adversely affect the Swiss economy, thus an increase in the currency will not be permitted.

The target range for the three-month Libor rate was also maintained at 0.0–0.25%.